October 16, 2018 / 1:59 PM / a month ago

U.S. Judge approves settlement between SEC, Musk

Oct 16 (Reuters) - A U.S. judge on Tuesday approved the settlement between the Securities and Exchange Commission, Tesla Inc and its Chief Executive Officer Elon Musk.

Musk agreed to pay a $20 million fine and step aside as Tesla's chairman for three years to settle charges that could have forced his exit from Tesla.

The company also accepted a $20 million fine, despite not being charged with fraud. (Reporting by Munsif Vengattil in Bengaluru; Editing by Arun Koyyur)

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